Connect with us

Market

PancakeSwap (CAKE) Surges 40%, Is the Buying Phase Over?

Published

on


PancakeSwap (CAKE) has increased 40% in the last 24 hours, and its revenues have climbed to $19 million over the past seven days, behind only Tether, Circle, and Jupiter.

The recent price surge comes as bullish technical signals continue to build. CAKE’s RSI has reached its highest level since 2023, while Ichimoku Cloud and EMA indicators point to further upside potential. Here’s what’s behind CAKE’s rally and the key levels to watch next.

PancakeSwap RSI Has Surged To Its Highest Levels Since 2023

CAKE’s RSI is currently at 89.6, up sharply from 25.1 just one week ago, marking its highest level since November 2023.

This significant increase suggests strong recent buying pressure, pushing the momentum indicator into extreme territory.

The Relative Strength Index (RSI) is a widely used momentum oscillator that measures the speed and magnitude of recent price changes.

CAKE RSI.
CAKE RSI. Source: TradingView.

It ranges from 0 to 100, with readings above 70 generally considered overbought and readings below 30 seen as oversold.

CAKE’s RSI of 89.6 signals that the token is deep in overbought territory. This could suggest that the price is at risk of a short-term correction as traders might start locking in profits.

However, during strong bullish trends, assets can remain overbought for extended periods before reversing.

Ichimoku Cloud Shows A Strong Bullish Setup

CAKE has broken decisively above the Ichimoku Cloud on the chart, marking a strong shift to a bullish trend.

The Tenkan-sen (blue line) has crossed above the Kijun-sen (red line), a classic bullish signal, while the price remains well above both lines, confirming strong momentum.

CAKE Ichimoku Cloud.
CAKE Ichimoku Cloud. Source: TradingView.

The future cloud has turned green, indicating that bullish sentiment could extend in the coming sessions.

However, with the price now significantly distanced from the cloud and the support of the Tenkan-sen, a short-term correction or consolidation could occur before further upside.

CAKE Could Rise Above $3 Soon

CAKE’s EMA lines are showing signs that a golden cross could form soon, indicating a potential shift to a sustained bullish trend as the BNB ecosystem continues to attract attention.

If this crossover takes place, it could provide the momentum needed for CAKE to test the resistance at $2.65. A breakout above this level could open the door for further gains, with the next key targets at $2.95 and $3.41.

CAKE Price Analysis.
CAKE Price Analysis. Source: TradingView.

However, if the uptrend fails to hold and the momentum fades, despite PancakeSwap still being the most dominant DEX in the BNB chain, CAKE could retrace toward the support at $2.33.

A break below this level may accelerate the correction, with additional downside risk toward $1.85 and potentially $1.38.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market

Onyxcoin (XCN) Price Signals a Potential Rebound After 45% Drop

Published

on


Onyxcoin (XCN) is down over 45% in the last 30 days, following a historic surge at the end of January. After being one of the most trending altcoins earlier this year, XCN is now showing signs of cooling off.

Both momentum and trend indicators point to weakening bearish pressure, suggesting that a shift could be forming. Here’s a look at the technical outlook and what could come next for Onyxcoin.

XCN RSI Has Been Neutral For One Week

Onyxcoin’s RSI is currently at 41.7, down from a peak of 55.6 three days ago.

The RSI has remained in a neutral zone for the past week, fluctuating between 41 and 55, without showing a strong bullish or bearish trend.

XCN RSI.
XCN RSI. Source: TradingView.

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100.

Readings above 70 typically indicate overbought conditions, while readings below 30 suggest oversold conditions. With XCN’s RSI now at 41.7, it suggests mild bearish pressure but not enough to confirm an oversold market.

This could indicate that XCN is in a consolidation phase, and traders may be waiting for a stronger directional signal before committing to a trend.

Onyxcoin ADX Shows The Current Downtrend Is Fading Away

Onyxcoin’s ADX is currently at 8.33, dropping from 14.7 just two days ago.

This sharp decline signals a further weakening of trend strength as the token remains in a downtrend but with reduced momentum behind the move.

XCN ADX.
XCN ADX. Source: TradingView.

The Average Directional Index (ADX) measures the strength of a trend, regardless of its direction. Values above 25 indicate a strong trend, and values below 20 point to a weak or non-trending market.

With XCN’s ADX now at 8.33, this suggests that the ongoing downtrend is losing steam. The price could remain range-bound or experience smaller movements until momentum returns.

Without a pickup in ADX, traders may see continued sideways or choppy price action in the short term.

Will Onyxcoin Reclaim $0.020 In March?

Despite being one of the most trending altcoins in 2025, Onyxcoin price has corrected by 42% over the past 30 days.

If this downtrend continues, XCN could retest the key support at $0.01. A breakdown below this level would mark the first time the token has fallen below $0.01 since January 17, before its major surge earlier this year.

XCN Price Analysis.
XCN Price Analysis. Source: TradingView.

However, as indicated by the weakening ADX, the current downtrend is losing strength, potentially opening the door for a rebound.

If Onyxcoin regains momentum, it could challenge the resistance at $0.0149, and a breakout could push the price toward $0.017. Should Onyxcoin recover its strong bullish trend from late January, it could rise as high as $0.022, breaking above $0.02 for the first time since March 3.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

Cardano (ADA) Bulls Advance as Sellers Lose Grip

Published

on


Cardano (ADA) is down nearly 8% over the past 30 days but has gained almost 3% in the last 24 hours as short-term momentum picks up.

The token’s market cap stands at $26 billion, while its trading volume has surged 30% in the past day, reaching $903 million. Technical indicators are starting to show early signs of a potential trend reversal after a period of bearish pressure. Here’s a closer look at the key signals and price levels shaping ADA’s outlook this week.

ADA BBTrend Is Now Positive After 6 Days

Cardano’s BBTrend has just turned positive, ending a six-day streak in negative territory, which included a low of -26.13 on March 12. The indicator is now sitting at 0.83, signaling a shift in momentum after the recent downtrend.

While this is still a relatively low reading, the move back into positive territory could be an early sign of strengthening buying pressure.

ADA BBTrend.
ADA BBTrend. Source: TradingView.

The BBTrend (Bollinger Band Trend) measures the strength and direction of price movement relative to the Bollinger Bands. Positive values indicate an uptrend, while negative values point to a downtrend.

Since ADA’s BBTrend hasn’t risen above 10 since March 8, the current reading of 0.83 suggests that, although the bearish pressure has eased, momentum remains weak. For a stronger bullish signal, traders would typically look for the BBTrend to push above 10, confirming a more decisive upward move.

Cardano DMI Shows Sellers Are Losing Control

Cardano’s DMI chart shows that its ADX has dropped to 13.7 from 17.5 in the past 24 hours, suggesting a weakening trend strength. While the ADX is still signaling a trend, the lower reading points to reduced momentum compared to the previous day.

The Average Directional Index (ADX) measures the strength of a trend, regardless of its direction.

ADA DMI.
ADA DMI. Source: TradingView.

Readings above 25 indicate a strong trend, while readings below 20 often signal a weak or range-bound market. Currently, ADA’s +DI has risen to 19.1 from 15.96, while the -DI has dropped to 19.31 from 25.48, showing that bearish momentum is fading as bullish pressure slowly builds.

With the +DI and -DI lines close to crossing, ADA appears to be in the early stages of attempting to reverse from a downtrend to a potential uptrend, though a stronger ADX would be needed to confirm a solid trend shift.

Will Cardano Rise Above $1.10 Soon?

ADA’s EMA lines have shown signs of consolidation over the past few days, though the overall structure remains bearish. Short-term EMAs are still positioned below the long-term ones.

However, recent signals from both the BBTrend and DMI indicators suggest that this trend could be shifting, with early signs of bullish momentum building.

ADA Price Analysis.
ADA Price Analysis. Source: TradingView.

If Cardano’s price manages to confirm an uptrend, it could first challenge the resistance at $0.77. A breakout above this level may open the path toward $1.02 and even $1.17, marking the first time ADA trades above $1 since March 3.

On the downside, if bearish pressure returns, ADA could retest support at $0.64, and a breakdown below this could push prices as low as $0.58, revisiting levels not seen since February 28.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

Extreme USDT Volatility Recorded On Chain

Published

on


Solana just celebrated its fifth birthday, and a recent study shows highly exaggerated USDT volatility on the network’s transport layer. This suggests a high level of speculative interest in the platform, fueled by the meme coin craze and other factors.

Web3 payments solutions platform Mercuryo shared this insight exclusively with BeInCrypto.

Solana’s Extreme USDT Volatility

Solana, the second-largest blockchain in the industry, just celebrated its fifth birthday. Its genesis block was mined on March 16, 2020. In honor of this milestone, Web3 infrastructure firm Mercuryo conducted a study on it.

According to this study, USDT volatility on Solana’s transport layer is currently at an “extreme” level.

“Solana captivates the interest of crypto traders across the globe. As Solana celebrates its fifth birthday, our transaction data on Tether tokens on the Solana transport layer suggests an unparalleled level of trading activity amid an explosion of interest in trading opportunities on Solana that we’ve seen over the past 12 months,” claimed Greg Waisman, Co-founder and COO at Mercuryo.

Solana’s USDT volatility has already spiked five times in 2025 alone. The network’s daily USDT trade volumes fluctuated dramatically in the past two months.

This consisted of three spikes and two drops, both of which were significantly smaller than the spikes. Both drops were in the 60%- 70% range, while the increases ranged between 100% and a whopping 137%.

More specifically, Solana saw a 100% increase in USDT trading on January 13. A week later, this activity dropped by 63% and again surged by 129% on January 27. This level of unprecedented capital movements is often rare for any blockchain network.

solana network inflows
Solana Network Weekly USD Inflows in 2025. Source: DefiLlama

Mercuryo claims that this volatility is caused by several factors, but the explosion of Solana meme coins is particularly important. Thanks to major meme coin launchpads like Pump.fun, Solana trade volumes have spiked in recent months, even surpassing Ethereum on a few occasions. This rising interest helps fuel intense activity and these wild swings.

Over the past five years, its network has processed more than 408 billion transactions and nearly $1 trillion worth of value on decentralized exchanges. While Solana has shown gradual growth since 2023, the volatility of capital inflow has been chaotic, to say the least.

Ultimately, this enhanced level of volatility shows that Solana has a lot of interest among crypto traders. The network has grown remarkably over the last five years, and it’s already poised to make major advancements in the near future.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io